HONG KONG – Shares of BYD Co. soared to a record high on Tuesday following the unveiling of its latest electric vehicle (EV) technology, which promises ultra-fast charging speeds that could rival the time it takes to refuel a conventional gasoline car. The Chinese automaker introduced its new battery system, capable of delivering up to 400 kilometers (249 miles) of range in just five minutes of charging, significantly reducing one of the key barriers to EV adoption.
The stock rose as much as 6% at the opening of Hong Kong trading, pushing BYD’s market value to nearly $62 billion—surpassing the combined worth of Ford Motor Co., General Motors Co., and Volkswagen AG. The breakthrough charging technology was demonstrated on the company’s new Han L sedan, which, along with the Tang L SUV, will be the first models to incorporate the system. Both vehicles are set to hit the market in April, priced at 270,000 yuan ($37,338) and 280,000 yuan, respectively.
BYD’s latest innovation could prove to be a game-changer for the EV industry, particularly as consumers weigh the convenience of refueling times when considering a shift from internal combustion engine (ICE) vehicles. “By directly addressing one of the key hurdles to battery-electric vehicle (BEV) adoption, the company is offering customers a clearer path to switch from ICEs to EVs,” analysts from Macquarie Capital, led by Eugene Hsiao, wrote in a note.
To support the new technology, BYD has committed to constructing more than 4,000 fast-charging stations across China, although it has not disclosed the full timeline or financial investment required for the rollout. The move comes as the company continues to strengthen its position in the global EV market, competing directly with Tesla Inc. Tesla’s China shipments dropped by 49% in February year-on-year, marking its lowest monthly total since July 2022. While Tesla’s Superchargers provide up to 275 kilometers of range in 15 minutes, BYD’s new system significantly surpasses that benchmark.
The company has also been making strides in performance, with its new EV platform allowing vehicles to accelerate from 0 to 100 kilometers per hour in just two seconds, according to BYD Chairman Wang Chuanfu. The automaker’s efforts to enhance charging infrastructure and vehicle capabilities come at a time when other manufacturers, such as Mercedes-Benz Group AG and Li Auto Inc., are also developing advanced fast-charging solutions.
BYD has seen strong momentum in 2025, with sales exceeding 318,000 passenger vehicles in February—a 161% increase from the previous year. The company holds nearly 15% of the Chinese auto market and continues to expand its dominance in both hybrid and fully electric vehicle segments. Analysts suggest that the new fast-charging technology could further drive demand for BYD’s next-generation EVs.
Beyond battery advancements, BYD is also making strides in driver-assistance technology, integrating features such as adaptive cruise control and lane-keeping into its lower-priced models. The company’s latest developments could intensify competition with Contemporary Amperex Technology Co. Ltd (CATL), the world’s leading EV battery manufacturer, which recently introduced a battery capable of delivering 500 kilometers of range in 12 minutes.
As the global EV market grows increasingly competitive, BYD’s latest innovation signals its intent to lead not just in affordability but also in cutting-edge technology, positioning itself as a formidable rival to Tesla and other major automakers.
